New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 22, 2013
07:07 EDTWYN, FCHFelcor Lodging converting eight hotels to Wyndham properties
FelCor Lodging Trust Incorporated (FCH) will re-brand, renovate and reposition eight Holiday Inn properties to the Wyndham Hotels and Resorts brand effective March 1, 2013. Wyndham Hotel Group (WYN) will manage the hotels under long-term management agreements with a performance guaranty. This agreement includes a $100M guaranty from Wyndham Worldwide Corporation over the 10-year term of the agreement, with an annual guaranty of up to $21.5M that ensures a minimum annual NOI for the eight hotels.
News For FCH;WYN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 3, 2015
12:37 EDTFCHFelcor Lodging management to meet with JMP Securities
Subscribe for More Information
September 2, 2015
08:12 EDTWYNWyndham announces first property in Myanmar
Subscribe for More Information
August 26, 2015
10:17 EDTWYNMKM Partners' four Lodging stock ideas following the pullback
Subscribe for More Information
August 24, 2015
15:01 EDTWYNWyndham slips after FTC given go-ahead for data breach lawsuit
Shares of Wyndham (WYN) have slipped in afternoon trading after an appeals court ruled that the FTC can sue the company over its allegedly poor cybersecurity practices. WHAT'S NEW: According to a Reuters report of court proceedings, the 3rd U.S. Circuit Court of Appeals in Philadelphia has ruled that the FTC may proceed with its lawsuit against Wyndham over data breaches in 2008 and 2009, saying the hotel company failed to take reasonable steps to protect customer information. Wyndham's allegedly lackluster data protection policies constitute "unfair and deceptive trade practices," granting the Federal Trade Commission authority to step in, said Judge Thomas Ambro. FTC Chairwoman Edith Ramirez commented, "It is not only appropriate, but critical, that the FTC has the ability to take action on behalf of consumers when companies fail to take reasonable steps to secure sensitive consumer information," according to the report. WHAT'S NOTABLE: Today's ruling comes in the wake of numerous high-profile "hack attacks," with American Airlines (AAL), Anthem (ANTM), United Airlines (UAL) and Target (TGT) all reporting digital security breaches in recent years. Though no final verdict has been reached in the case between the FTC and Wyndham, Judge Ambro may have established the beginnings of a legal precedent potentially allowing the Commission to sue companies for not going far enough to protect consumer data and Chairwoman Ramirez appeared to share that broader tone. PRICE ACTION: Shares of Wyndham are down about 4% in intraday trading. Cybersecurity firms FireEye (FEYE) and Palo Alto Networks (PANW) are down roughly 2% and 2.7% for the afternoon.
14:09 EDTWYNCourt says Wyndham failed to safeguard customer information, Reuters reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use